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out of the prate sector if the bush tax cuts go away. 100 billion of government spending that would stop under the sequestration. do those numbers sound about right to you and is there a multiplier at work here? does it matter more if you take money away from the consumer in forms of evaporating tax cuts or the government spending? >> well i don't know that it matters more over the period of a couple of years but the immediate effect is that the tax increases will take effect. and people have to pay the tass and spending will go down. i don't know that sequestration will click in as quickly as people say. there will be a reduction in ending over the course of the year but i don't know that it will happen as qukly. there is a real danger the tax increase could throw us right into recession. melissa: right. you yank $200 billion out of the hand of the private ctor, what does that immediately do to gdp? at's what we're talking abt here today. we're talking abou the gdp number. this would be just taking a hammer to that. >> it would be 350 billion. good for about 2%. it would happen pre
in why we still have those. >>> plus do you think the rich pay their fair share of taxes? what if we told you they're paying more than ever before? "the wall street journal" steve moore is here with all of the facts. >>> thanks but no thanks. new york city mayor bloomberg tells president obama, not to visit the big apple after the storm. i say thank goodness. but one of my guests says bloomberg is way out of bounds. he is here to disagree with me. even when they say it's not, it is always about money. melissa: first after a two-day hiatus, let's look at market headlines. wall street swung back into gear on the first day of trading since superstorm sandy. stocks were choppy throughout the session. they closed mixed throughout the day. dow closed down 10 points. home depot closed higher on the dow. expected demand of home and construction supplies sent shares up 2%. that makes sense. facebook shares tumbled 4%. a lockup expired on 229 million shares today. another 804 million shares will become unlocked on november 14th. >>> lots of damage to assess. the president just spoke after touring n
in form of lower taxes, so they can hire more people and purchase more equipment? that is an idea. we have the owner of metcalf manufacturer and tech resources. thanks for joining me guys. what do you think, bart? let me start with you. is this a fantastic idea? >> no, it is a terrible idea. a terrible idea. melissa: oh, why? >> why? well, you know, if you look at it creating a new agency, might have incredibly powerful and unknown potential regulatory control and far broad-reaching power. this is sort of a weird thing. i talked to, i talked to several ceos about this last night and this morning. they were sort of like, what? melissa: not excited. >> very, very bad idea. not excited at all. i got off the phone with folks from sba actually. they are saying, you know what? maybe there is cost sharing achieved in sort of overarching agency. but guess what? the government sucks at firing people. melissa: yeah. >> pardon my french. but the cost sharing is only achieved when you can actually lay people off. this is terrible idea. melissa: carl what do you think? if it is a cabinet position maybe
on that. over the last year the unemployment rate --. melissa: how much tax dollars and what could the tax dollars spent on? >>an i say, melissa, give the president a little credit here. net more new jobs than when he took office in the wake. melissa: 194,000. >> well, but in the wake of the biggest financial disaster. what does romney do? melissa: got 16 million people who need more jobs at a rate -- four years 194,000 how long would it take to 16 million back to work four years for 194,000. i'm going to be dead by the time everyone is back to work. you've bn talking a lot. i will will give you last word. >> romney wants to deregulate wall street tax breaks for the wealthy and do european style austerity where the eurozone has 11.7% unemployment. melissa: not where we want to go. all right. >> that is last word. nice to be with you again. melissa: thanks for coming on. coming up on money, zen and campaign ads don't exactly go together. one republican candidate is bringing voters much-needed r&r he is special laugh -- especially after the last segment. he is here in a fox business exclusi
Search Results 0 to 6 of about 7 (some duplicates have been removed)